Mr. Mark Bristow reports

KIBALI, AFRICA'S LARGEST AND GREENEST GOLD MINE, CONTINUES TO DELIVER GROWTH

Drilling results from the ARK-KCD corridor continue to strengthen confidence in scale and continuity, demonstrating the potential to host significant additional orebodies and further extend the life of mine at Barrick Mining Corp.'s Kibali, Africa's biggest and greenest gold mine. All amounts are expressed in U.S. dollars.

Speaking at a media briefing in Kinshasa today, Barrick president and chief executive officer Mark Bristow said the work on the ARK-KCD system is revealing a coherent geological structure -- with mineralization expanding laterally and down plunge -- that could significantly grow Kibali's reserve base within the existing footprint.

"Kibali was built with a long-term view, and has consistently delivered across production, partnerships and reserve growth. We've replaced every ounce we've mined and more since Kibali poured its first gold in 2013, and the ARK-KCD corridor shows that there's still much more to come," he said.

Kibali continues to contribute meaningfully to the Congolese economy with in-country investment now surpassing $6.3-billion, including $3.1-billion in payments to local contractors and partners. The mine remains the single biggest economic contributor to the northeastern Democratic Republic of the Congo, spanning the Haut-Uele and Ituri provinces.

The Kalimva, Ikamva and Ndala satellite pits are being mined under contracts with local businesses, reinforcing Kibali's strong commitment to developing local content. More than 700 Congolese companies are supported through procurement and capacity-building initiatives, and all tenders are published jointly by the mine and the DRC's subcontracting regulator, ARSP, in line with best practice transparency.

"Kibali is more than a mine. It's a partnership that anchors the regional economy. It's Congolese led, Congolese supplied and built to last. We're proud of the model we've created here -- one that delivers shared value every step of the way," Mr. Bristow said.

Continuing operational improvements in the underground mine are expected to deliver material productivity gains from the third quarter with a focus on long-term cost-efficiency and performance optimization. Additionally, the commissioning of the 16-megawatt solar plant with an integrated battery energy storage system has been completed, raising renewable energy use to 85 per cent with the site operating on 100 per cent renewable energy for six months of the year.

"This is what the energy transition looks like in practice. It's a benchmark not just for Africa but for the global mining industry," he said.

Biodiversity conservation also remains central to Barrick's sustainability strategy. Working with the Congolese Institute for Nature Conservation and African Parks, preparatory work is under way to introduce an additional 64 white rhinos into the Garamba National Park by the end of this year. This follows the successful reintroduction of 16 rhinos in 2023 and forms part of a long-term partnership to restore and nurture biodiversity in the region.

Leadership and capacity building continued through the Barrick Academy with 170 Kibali employees attending training during the second quarter, delivering another tangible investment in the career advancement of Congolese mining professionals.

On the community front, 41 out of 44 projects financed through the 0.3-per-cent community development fund have been completed, delivering essential infrastructure, education and health care support. At the same time, execution of the Cahier des Charges is progressing well, with $4.8-million invested to date.

"Kibali is our blueprint for sustainable growth in the DRC. Built on a foundation that is technically sound, socially rooted and environmentally responsible, it reflects our long-term vision. The experience and lessons gained here in one of the world's toughest mining environments will guide us as we look to expand our in-country portfolio to include not just more gold but also copper projects," Mr. Bristow said.

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